DECISION

ON THE RATES OF FOREIGN PARTIES’ PARTICIPATION IN VIETNAM’S SECURITIES MARKET

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government of September 30, 1992;
Pursuant to Decree No. 48/1998/ND-CP of July 11, 1998 of the Government on Securities and Securities Market;
At the proposal of Chairman of State Securities Commission;

DECIDES

Article 1.- Foreign organizations and individuals may hold at most 20% of the total number of circulating shares of an issuing organization, and/or investment fund certificates of a securities investment fund, in which, a foreign organization may hold a maximum of 7% and a foreign individual may hold a maximum of 3%.

Article 2.- Foreign organizations and individuals may hold 40% of the total number of the circulating bonds of an issuing organization, in which, a foreign organization may hold 10% and foreign individual, 5% at most.

Article 3.- The maximum capital contribution proportion of the foreign parties to a joint-venture securities company is 30%.

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Article 5.- The ministers, the heads of ministerial-level agencies, the heads of agencies attached to Government, the presidents of the People’s Committees of the provinces and centrally-run cities shall have to implement this Decision.

THE PRIME MINISTER OF GOVERNMENT




Phan Van Khai